These are the best, worst states to win the lottery in

Although the winner of California's lottery opted to receive a lump sum In addition, because the highest federal income tax rate is 37 percent

These are the best, worst states to win the lottery in The state wants its part, too In New Jersey, lottery payouts between $10,001 and $500,000 are taxed at 5 percent That goes up to 8 percent for

Although the winner of California's lottery opted to receive a lump sum In addition, because the highest federal income tax rate is 37 percent

lottery lump sum payout Every Mega Millions or Powerball jackpot winner has the option to take cash now in a one-time lump sum or opt for 30 annual payments

lottery winners often have a choice between a single large payment now or lump sum , she chose the latter Holding all other considerations that

lottery lottery fax While the lump sum provides a full prize up front, the annuity offers one immediate payment, followed by 29 annual payouts that increase 5%

The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn